Share Market News: Momentous Increase Witnessed in Defense PSU Stocks

Share Market News: Recently, a lot of momentum has been seen in the stocks of defense PSUs. In shares like Bharat Dynamics, Cochin Shipyard, Mazagon Dock, and Garden Reach, we saw a lot of momentum on 4th September. The reason for this momentum could be the government’s increasing capital allocation of 1.45 trillion for defense PSU companies. 

Big Step Towards Defense

The Defense Acquisition Council (DAC) has approved the Acceptance of Necessity (AON), of these Capital Acquisition Proposals on 3 September 2024. The government has given 3.61 trillion capital for procurement under several categories in the Union Budget of FY24-25 to increase domestic manufacturing.